Yuri Company have the following information for their financial reporting of their cash on December 31, 2020: 1. Checkbook balance is P400,000 2. Undeposited collections amounted to P20,000 3. A customer check amounting to P30,000 dated January 3, 2021 was included in the December 31, 2020 checkbook balance 4. Another customer check for P50,000 deposited on December 21, 2020 was included in the checkbook balance but returned by the bank for insufficiency of fund. This check was redeposited on December 26, 2020 and cleared two days later. 5. A P50,000 check payable to supplier dated and recorded on December 30, 2020 was mailed on January 16, 2021. 6. A petty cash fund of P5,000 comprised of the following on December 31, 2020: Coins and currencies- P500; petty cash vouchers- P4,000: and refundable deposit for returnable containers- P500 7. A check of P4,000 was drawn on December 31, 2020 payable to Petty Cash

Yuri Company have the following information for their financial reporting of their cash on December 31, 2020: 1. Checkbook balance is P400,000 2. Undeposited collections amounted to P20,000 3. A customer check amounting to P30,000 dated January 3, 2021 was included in the December 31, 2020 checkbook balance 4. Another customer check for P50,000 deposited on December 21, 2020 was included in the checkbook balance but returned by the bank for insufficiency of fund. This check was redeposited on December 26, 2020 and cleared two days later. 5. A P50,000 check payable to supplier dated and recorded on December 30, 2020 was mailed on January 16, 2021. 6. A petty cash fund of P5,000 comprised of the following on December 31, 2020: Coins and currencies- P500; petty cash vouchers- P4,000: and refundable deposit for returnable containers- P500 7. A check of P4,000 was drawn on December 31, 2020 payable to Petty Cash

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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